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12803
Decreasing prices in the metal industry
statistikk
2009-04-08T10:00:00.000Z
Prices and price indices;National accounts and business cycles;Energy and manufacturing
en
ppi, Producer price index, price trends, inflation, domestic market, export market, economic indicator, intermediate goods, energy goods, consumables, capital goods, metal-working industry, food industry, oil refining, machine industry, mining, metal prices (for example gold, aluminium, copper)Producer and wholesale price indices, Energy , Oil and gas , Business cycles , Manufacturing, mining and quarrying , National accounts and business cycles, Prices and price indices, Energy and manufacturing
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Producer price index, 15 March 2009

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Decreasing prices in the metal industry

Prices in the metal industry fell by 3.3 per cent from February to March. This was the most important contribution to a 0.2 per cent decrease in manufacturing prices.

Price development for some groups. 2000=100

Manufacturing prices decreased by 0.2 per cent from February to March. Several industry groups experienced small declines in prices in this period, but it was the lower prices of basic metals (down 3.3 per cent) that made the most important contribution to the decrease in prices in manufacturing as a whole.

All product groups in basic metals experienced declining prices from February to March, and the largest was for non-ferrous metals, which dropped by 3.8 per cent. The prices of basic metals have declined continuously from September last year. One reason for this long-term decrease could be reduced demand for basic metals from European manufacturing among others.

Increase in several industries

Even though prices decreased for manufacturing as a whole, several groups moderated the price decrease. This applies to refined petroleum products and chemical and pharmaceutical products among others. These groups experienced price growth of 0.9 and 1.2 per cent respectively.

Development on home and export market differs

Manufacturing prices at the Norwegian home market increased by 0.1 per cent from February to March 2009. Several industries are characterized by stronger price development in the home market than the export market. To compare the development in the manufacturing prices on the home market in other European countries, see Eurostat.

Twelve month change: 0.3 per cent decrease

Since March 2008 the producer price index for extraction, mining, manufacturing and electricity decreased by 0.3 per cent. Manufacturing prices fell by 3.2 per cent in the same period. It was refined petroleum products, together with chemical and pharmaceutical products, that experienced the strongest price decline. For these groups prices fell 16.3 and 27.3 per cent respectively.

Important announcement: New classification implemented

As of January 2009 a new version of Eurostat’s industry classification, NACE, is in use. The producer price index (PPI) and the commodity price index for the industrial sector (VPPI) are affected by the change of nomenclature from the publication of the January 2009 index. Click here to read more about the implications for users, calculation and dissemination . Some series according to the new standard have been recalculated also for previous periods for the release of the March index. Users are welcome to refer enquiries about the transition between nomenclatures by e-mail Espen.Kristiansen@ssb.no or by telephone +47 21 09 45 84.

Producer price index. 2000=100
  March 2009 Changes, per cent
  February 2009-
March 2009 		March 2008-
March 2009
Total index  162.4 -0.1 -0.3
       
Extraction of oil and natural gas  189.9 0.5 1.5
Manufacturing, mining and quarrying  130.4 -0.2 -3.0
Electricity, gas and steam supply  260.5 -7.8 30.2
       
Main industrial groupings      
Intermediate goods  129.7 -0.9 -2.3
Investment goods  125.8 0.2 7.7
Consumer goods  121.8 -0.1 5.1
Energy goods  186.9 0.1 -1.6

For information on the commodity price index for the industrial sectors, see http://www.ssb.no/vppi